Savings

[pepp77]

I am being given my inheritance early from my Mum, so am paying off my mortgage this month. The plan is I will then put the £500 I paid for the mortgage each month into a savings account. This account will be in my name, but will be there in case something bad happens and my Mum needs some money back. Does anybody have any recommendations of the best place for me to put that £500 each month. Most Regular savers seem to be a maximum of £250 a month and I didn't really want to have to open 2. Can I open an ISA with £500 and then add to it each month? Any specific products anyone is using?

Thanks

 

[pepp77]

Ah, thanks

 

[pepp77]

Might be worth investigating a stocks and shares ISA if this is going to be a long term thing. You don't need to buy individual shares you can buy funds etc which spread the risk a bit more. Returns (generally) should be a bit more than just savings. Of course the markets could crash and you loose everything, values of investments may fall as well as rise, do your own research etc etc

I have tried with stocks and shares ISA's before and never had much luck with return, so will probably stick to a standard case ISA